5) Now browse back to Application Management ->
Create Site Collections.

6) You would see your custom Managed paths there.

Explicit
Inclusion:

When we are not planning to create further site
collections under a specified managed path, then we use this option. Explicit
Inclusion Managed paths allows in creation of only one site collection at the
exact given URL.

In our case fahadexplicit
would be the only site collection that can be created. SharePoint will allow creating
only one site collection within this Managed Path.

The URL would be: http://servername:port/fahadexplicit

Wildcard
Inclusion:

When we want to create more than one site collection
under a specific managed path, we use this option. Wildcard Inclusion Managed Paths
allow unlimited site collection to be created under a given URL.

In our case under fahadwildcard,
we can create any number of site collections.